Charles Schwab brings spot Bitcoin and Ethereum to mainstream investors in gradual launch using Paxos custody

Charles Schwab has begun a phased rollout of direct spot trading in Bitcoin and Ethereum through its Schwab Crypto platform, which operates via Charles Schwab Premier Bank; Paxos is serving as the regulated custody and trade-execution partner. Trading is priced at 75 basis points per transaction, and the initial offering is limited in scope, excluding New York and Louisiana and not yet available to all customers ^{[1] [2] [3]}.

The service expands crypto access for the firm’s client base — reported as roughly 39 million customers — and places Schwab in direct competition with established retail crypto platforms such as Coinbase and Robinhood. Reports note Schwab’s fees are lower than some rivals, and Crypto Briefing said the move could accelerate mainstream adoption and prompt increased regulatory scrutiny ^{[4] [3] [1]}.

Schwab describes the initiative as a staged, not immediate, launch; eligible customers will gain access over time as the firm expands the program and releases more platform details ^{[3] [2]}.